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I am replacing my sprinkler timer with a new timer.
The old timer plugs into an outlet that is not a GFCI outlet. The outlet is on the exterior wall within arm's reach of the main panel.
Can I replace the appropriate breaker with a GFCI breaker instead of a GFCI outlet, and what would that involve?

Before going to all that work and expense, are you certain that the outlet is not GFCI protected? There may be a GFCI located somewhere else that also feeds this outlet, hence the outlet is protected even though it is not a GFCI itself.

Common places for GFCI outlets to be located are garage, bathroom, patio, and kitchen. Locate and trip these one at a time and see if it affects the exterior plug for your timer.

Just a final note for you to consider: buy quality stuff from an electrical supply house. Brand name will do. You will pay a few $$ more, but you will get something that won't fail on you very quickly.